Havertys sales tumble 12.5% in quarter

Same-store sales down 14.9%

Clint Engel -- Furniture Today, October 7, 2008

ATLANTA - Havertys continued to feel the brunt of an economic slump as third quarter same-store sales declined 14.9% from the same period a year ago.

Total sales for the period ended Sept. 30 declined 12.5% to $175.6 million from $200.7 million for the third quarter of 2007.

Through the first nine months of the year, Havertys' sales were off 8.6% to $529.2 million, and same-store sales dipped 11.3%.

Written business for the third quarter was down 15.2% from the same period a year ago, the retailer said. Written business for the third quarter of 2007 declined 5.8% from the same period in 2006.

The Top 100 company, with 123 stores in 17 states in the South and Midwest - one store less than at the close of the second quarter - stopped reporting monthly sales after its July sales report.